Walter Investment Shareholder Alert: Briscoe Law And Powers Taylor Investigate Possible Breaches Of Fiduciary Duty By Officers And Directors

Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor, LLP announce that a federal class action lawsuit has been filed against Walter Investment Management Corp. (“Walter” or “Company”) (NYSE: WAC). The firms are investigating additional legal claims against the officers and Board of Directors of Walter during the period of May 9, 2012 and June 6, 2013 (the “Class Period”).

If you are an affected investor and you want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Zachary Groover at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at shareholder@powerstaylor.com. There is no cost or fee to you.

In a recently filed federal class action complaint, Walter and certain of its officers and directors were charged with violating certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges that among other things, defendants misrepresented and/or failed to disclose that: (a) Walter lacked adequate internal controls over financial accounting; (b) Walter’s internal controls were not effective; (c) Walter’s financial statements contained false and misleading statements; (d) Walter had failed to disclose material weaknesses in the internal controls of RMS; and (e) Walter had overstated the value of its recent acquisition, RMS. According to the complaint, when the news was released, the Company’s stock declined.

The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.

Copyright Business Wire 2010

If you liked this article you might like

Citi's Focus on New Mortgages Spurs $982 Million Sale of Servicing Rights

Citi's Focus on New Mortgages Spurs $982 Million Sale of Servicing Rights

5 Stocks Under $10 Set to Soar

5 Stocks Under $10 Set to Soar

7 Stocks Under $10 to Trade for Big Profits

7 Stocks Under $10 to Trade for Big Profits

5 Stocks Under $10 Set to Soar

5 Stocks Under $10 Set to Soar

7 Stocks Under $10 Spiking Toward Big Gains

7 Stocks Under $10 Spiking Toward Big Gains